https://www.taxtmi.com/caselaws?id=767884 The ITAT Mumbai upheld the FAA's decision to delete an addition made under section 69A. The AO had made the addition based on information from third-party search and seizure operations without conducting independent inquiry with the relevant parties. The assessee consistently maintained it received payment from a specific company and provided corroborative evidence. The AO failed to present cogent material to challenge the assessee's claim or discredit the supporting evidence. The ITAT found the addition was made merely on suspicion and conjecture, confirming the FAA properly analyzed available facts and evidence before deleting the addition. en-us Tue, 25 Mar 2025 00:00:00 +0530 Thu, 27 Mar 2025 08:36:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767884 The ITAT Mumbai upheld the FAA's decision to delete an addition made under section 69A. The AO had made the addition based on information from third-party search and seizure operations without conducting independent inquiry with the relevant parties. The assessee consistently maintained it received payment from a specific company and provided corroborative evidence. The AO failed to present cogent material to challenge the assessee's claim or discredit the supporting evidence. The ITAT found the addition was made merely on suspicion and conjecture, confirming the FAA properly analyzed available facts and evidence before deleting the addition. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767884